Corporate PresentationQ4 2020
One of The Worlds Highest Grade Producing Tin Mines
Source: International Tin Association Tin Industry Review 2020
2
Disclaimer
This Corporate Presentation (the “Presentation") was prepared as a summary overview only of the current affairs of Alphamin Resources Corporation Inc.
(”Alphamin" or the “Company") and was not prepared for the purpose of assisting prospective investors in making a decision to invest in Alphamin. Alphamin does
not make any representation as to the completeness, truth or accuracy of the information contained in this presentation. The Company expressly warns readers not
to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your risk and without liability to the
Company. The information contained herein is not and should not be construed as either a public or private offer or solicitation to purchase securities in the capital
stock of Alphamin. The reader is referred to his/her professional investment advisor regarding investment related decisions respecting the securities of the
Company.
Forward Looking Information
Certain information contained in this presentation, including any information relating to future financial or operating performance are “forward-looking”. All
statements in this presentation, other than statements of historical fact, which address events, results, outcomes or developments that Alphamin expects to occur
are “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of
forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, “intends”, “anticipates”, “projects”,
“potential”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will
be taken”, “occur” or “be achieved” or the negative connotation of such terms. Forward-looking statements in this presentation include, among others, the
statements on pages 5, 9 and 11 and statements with respect to: estimates for future production, total cash costs and all-in sustaining costs, and the factors
contributing to those expected results, as well as expected capital expenditures; mineral reserve and mineral resource estimates; grades expected to be mined at
the Company’s operations; the expected production, costs, economics and operating parameters of the Bisie Tin project; future tin prices; planned activities for the
Company’s operations and projects; and the success of planned exploration activities.
All forward-looking statements in this presentation are based on the opinions and estimates of management as of the date such statements are made and are
subject to important risk factors and uncertainties, many of which are beyond Alphamin’s ability to control or predict. Certain material assumptions regarding such
forward-looking statements are discussed in this presentation, Alphamin’s annual and quarterly management’s discussion and analysis (“MD&A”) and its Technical
Reports filed at www.sedar.com. In addition to, and subject to, such assumptions discussed in more detail elsewhere, the forward-looking statements in this
presentation are also subject to the following assumptions: (1) there being no significant disruptions affecting Alphamin’s operations; (2) political and legal
developments in jurisdictions where Alphamin operates, or may in the future operate, being consistent with Alphamin’s current expectations; (3) the accuracy of
Alphamin’s current mineral reserve and resource estimates; (4) the exchange rate between the Congolese franc and U.S. dollar being approximately consistent
with current levels; (5) prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with current levels; (6) equipment,
labour and materials costs increasing on a basis consistent with Alphamin’s current expectations; (7) all required permits, licenses and authorizations from the
relevant governments and other relevant stakeholders being obtained and maintained; (8) commodity prices and exchange rates being consistent with those
estimated by management; (9) no material disruption to Alphamin’s operations or supply chains from COVID-19, ebola or other outbreaks of illness.
3
Disclaimer
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other
factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-
looking statements. Such factors include, without limitation: significant capital requirements and the availability and management of capital resources; additional
funding requirements; price volatility in the spot and forward markets for tin and other commodities; fluctuations in the international currency markets and in the
rates of exchange of the currencies of the DRC and the United States; discrepancies between actual and estimated reserves and resources and between actual
and estimated metallurgical recoveries; changes in national and local government legislation in the DRC or any other country in which Alphamin currently or may in
the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which Alphamin does or may carry on
business; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the
necessary licenses and permits and complying with the permitting requirements of each jurisdiction in which Alphamin operates, including, but not limited to: in the
DRC, obtaining the necessary permits for the Bisie Tin project; the lack of certainty with respect to foreign legal systems, which may not be immune from the
influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges
Alphamin is or may become a party to; diminishing quantities or grades of reserves and resources; competition; loss of key employees; rising costs of labour,
supplies, fuel and equipment; actual results of current exploration or reclamation activities; uncertainties inherent to mining economic studies including the
feasibility study for the Bisie Tin project; changes in project parameters as plans continue to be refined; accidents; labour disputes; outbreak of illness, defective title
to mineral claims or property or contests over claims to mineral properties; risks, uncertainties and unanticipated delays associated with obtaining and maintaining
necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the environment. In addition, there are
risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and losses of processed tin (and the risk of inadequate insurance or inability to obtain insurance to
cover these risks) as well as “Risk Factors” included in Alphamin’s public disclosure documents filed on and available at www.sedar.com.
Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such
statements. All of the forward-looking statements contained in this presentation are qualified by these cautionary statements. Alphamin expressly disclaims any
intention or obligation to update or revise any forward-looking statements whether as a result of new information, events or otherwise, except in accordance with
applicable securities laws.
Quality Assurance / Quality Control
Mr Vaughn Duke Pr.Eng. PMP, MBA, B.Sc. Mining Engineering (Hons.), is a qualified person (QP) as defined in National Instrument 43-101 and has reviewed and
approved the scientific and technical information contained in this Presentation. He is a Principal Consultant, Partner and Director of Sound Mining Solution Pty Ltd,
an independent technical consultant to the Company.
4
One of the World’s Highest Grade Producing Tin Mines
▪ Alphamin is an established mid-tier mining company listed on the
TSX Venture Exchange in Canada and the Alternative Board of the
Johannesburg Securities Exchange
▪ Alphamin produces tin in concentrate from its high grade Bisie tin
mine in the resource rich Democratic Republic of Congo (DRC)
▪ Bisie is one of the world’s highest grade tin mines, producing
c.11,000t of tin in concentrate per year at an average resource
grade of approximately 4.5%(5)
▪ This grade is about four times higher than most other operating tin
mines in the world, ensuring Bisie remains a low cost producer(5)
▪ Alphamin owns 84.14% of Alphamin Bisie Mining SA (“Bisie”)
alongside the DRC government (5.00%) and the Industrial
Development Corporation of South Africa (“IDC”) (10.86%)
▪ It has an additional three, mostly unexplored, exploration licenses
covering a total of 275km2 in the North Kivu Province of the DRC
▪ Alphamin currently produces c.4% of globally mined tin and is the
second largest individual producer outside of China and Indonesia(5)
Corporate Overview
Equity
Listings
TSX Venture Exchange (TSXV:AFM)
AltX - Johannesburg Securities Exchange (JSE
AltX:APH)
Shares
Outstanding1,180.4 million
Number Expiry Exercise Price
Warrants79.8 million
89.9 million
07/04/2022
22/01/2021
CAD30c
CAD40c
Options 23.1 million Varies CAD24c
Reserve BaseAccounts for 8% of Global Compliant Tin Reserves(5)
3.33MT
Total Mineral Reserve
4.01% Sn
Proven & Probable
Reserve Quality
Yielding 133.4kt
Sn content
58.4%
Public Shareholders
33.3% 3.8%
4.5%
Shareholders
(1)
(2)
(3)
84.1%DRC
Government5.0%
10.9%
Alphamin Resources Operating Entity (Bisie Mine)
(4)
Note: (1) The world’s largest independent metal trading company (2) Global asset manager specializing in metals (3) Global energy and resources private equity firm with AUM over USD9bn
(4) South African government parastatal promoting industrial development (5) According to International Tin Association Tin Industry Review 2020 and Global Resources & Reserves 2020
Market Statistics September 2020
5
Exposure to
Growing Tin
Sector
Key Investor Highlights
▪ Tin is the metal expected to be most positively impacted by new technology
advancements(1)
▪ Tin demand is expected to outstrip supply in the medium term (2)
▪ Alphamin provides exponential exposure to the tin price from its growing production
and resource base – targeting an increase in tin production from 11kt to 13kt per year
by end 2021
▪ Producing profitably as a lowest quartile cost producer(2), with further production
increases planned
▪ 11 year declared life of mine with significant resource upside from the existing
Mpama North mine which is open at depth, the adjacent Mpama South deposit and an
additional three highly prospective exploration permits in very close proximity to the
current operations
▪ Strong executive management team has over 85 years combined experience in
African mining
▪ Board of directors provide oversight with experience gained at blue chip financial and
mining companies
Proven Low Cost
Producer
One of the
Highest Grade Tin
Mines in the
World
Innovative
Entrepreneurial
Management
Team
▪ Fewer than five years to move from compliant resource to one of the highest grade tin
producers in the world with a world class mine and extraction plant
▪ Well established infrastructure with proven export / import routes for finished goods and
raw materials
▪ Contributes positively to communities to create a symbiotic relationship that has
added safety benefits for Alphamin
▪ Tin users are becoming more conscious of responsibly sourced tin, Alphamin is a
compliant conflict free producer
▪ Strong regional and national support from the DRC government
Strong
Community
Relations
1
2
3
4
5
Note: (1) Rio Tinto commissioned MIT survey (2) International Tin Association Tin Industry Review 2020
6
Others9%
Russia36%
Brazil20%
Australia14%
Peru13%
Alphamin8%
Note: (1) CRIRSCO-Compliant (contained tin), (2) Metals are scored on three metrics: ease of substitution including dematerialization trends, likelihood of market disruption due to the
technology and potential size change of commodity demand from the technology compared to the current market size for that commodity
The Tin Market is Entering a Growth Period Supported by Applications in New TechnologiesAlphamin Stands to Benefit
Substantially From Increased Demand
Global Tin Reserves (2019)(1)
Electric Vehicles
▪ The main focus
for tin is in the
positive anode
electrode of
lithium ion
batteries
▪ The electric
vehicles market is
projected to reach
27.0 million units
by 2030 from an
estimated 3.3
million units in
2019, at a CAGR
of 21.1%
Advanced Robotics
▪ The global market
for robotics is
expected to grow
at a CAGR of
c.26%, reaching
c.USD210bn by
2025
▪ It is predicted that
this market will hit
the USD100bn
mark in 2020
Renewables
▪ The share of
renewables in
meeting global
energy demand is
expected to grow
by 20% to reach
12.4% in 2023
▪ Renewables will
have the fastest
growth in the
electricity sector,
providing c.30%
of power demand
in 2023, up from
24% in 2017
1 Alphamin Provides Strong Exposure to the Growing Tin Sector
Tin
Lithium
Cobalt
Silver
Nickel
Gold
Tungsten
Vanadium
Graphite
Nioblum
Zinc
PGM (Pt,Pd)
Salt
Electric Vehicles
Robotics
Renewables
Oil & Gas
Energy Storage
IT
Other
Metals Most Impacted by New Technologies(2)
Total:
1.6 MT
Others35%
Russia29%
Brazil8%
Australia15%
Peru9% Alphamin
4%
Total:
6.0 MT
Global Tin Resources (2019)(1)
Source: International Tin Association Global
Resources & Reserves 2020
Source: International Tin Association Global
Resources & Reserves 2020
Source: Rio Tinto commissioned MIT survey
Source: Statista Source: Markets & Markets Source: International
Energy Agency
7
▪ According to the
International Tin
Association’s Tin
Industry Review 2020, Tin
prices are expected to
increase as growth in tin
markets outweighs new
supply, leading to a
significant deficit
▪ Higher tin price will be
required to incentivize the
additional production
required
1 Higher Future Tin Price is Required to Incentivize Mine Production
and Avoid a Deficit
Source: International Tin Association, Roskill
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
200
250
300
350
400
450
500
550
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
USD/tkt
Existing Mine Production Secondary Refined Tin Required New Mine Production
Consumption (3-4% CAGR from 2025 forecast by ITA, RHS)
ITA 90th Percentile Cost Curve (RHS)
Alphamin AISC (RHS)
ITA Incentive Price Required to Fill Supply Gap (RHS)
Deficit Post 2025
8
Quality Assets Located in a Prolific Tin Geological Area
PR5266
PE5267PE13155
PR10346
Access Road
Bisie Mine
DRC
Bisie Mpama North Mineral Resource at 0.50% Sn Cut-off grade as at 30 June 2019
Quantity (Mt) Quality (% Sn) Content (kt Sn)
Measured 0.33 4.75 15.6
Indicated 3.99 4.59 183.4
Measured & Indicated 4.32 4.61 199.0
Inferred 0.48 4.57 21.8
Bisie Mpama North Mineral Reserve at USD17,000/t Sn as at 31 December 2019
Quantity (Mt) Quality (%) Content (kt)
Proven 0.05 3.77 1.89
Probable 3.28 4.01 131.5
Total 3.33 4.01 133.4
N3
▪ All tenements are located
within the Walikale
District, North Kivu
Province of DRC and lie
within one of the world’s
principal gold and tin
metallogenic provinces
▪ Bisie Mine occurs within
Permis de Exploitation
(Mining Permit) PE13155
▪ There are 3 exploration
permits granted to
Alphamin’s DRC-
registered subsidiary,
Alphamin Bisie Mining SA
▪ Logistics routes and
associated export
protocols are in place
▪ Mpama North’s Mineral
Resource size is
constrained by drilling
completed to date.
Additional drilling is
planned to increase
Mineral Resources along
strike and depth
Goma
Lubumbashi
Kinshasa
Bisie Mine
2
9
Mpama North Mpama South and Mpama North Extension
Mpama South (Pictured Above)
▪ 750m south of Mpama North
▪ Similar mineralization and structural control
▪ Maiden resource drilling to start Q4 2020
Mpama North Extension (Pictured Left)
Some of the best intersections of Mpama North high-grade chute
occurred in the northernmost-drill line:
− 16.0m at 22.5% tin from 387.45m
− 12.5m at 10.9% tin from 336.7m
− 13.6m at 7.6% tin from 534.4m
▪ Mpama North Extension is the continuation of the Mpama North
orebody along strike and downdip from the current Mineral
Resource estimate
▪ Mineral Resource open downdip from current
estimate. Resource estimate constrained by
position where drilling was terminated (580m
below surface)
▪ Underground production delivering
32,000t/month run of mine, process plant
producing 11kt per annum tin in concentrate
▪ Plans in place to increase tin production to
13,000t per annum by 2021 through:
− Plant throughput increase of 10%
− Fine tin recovery plant, which will treat
existing tails from plant
Producing from Mpama North, with Significant Potential from
Nearby Resources
2
▪ Marouge and other identified targets along the
Mpama Ridge fall within the same lithological
trend as Mpama North and South and show high
potential for mineralization due to their
geophysical and geochemical anomalies
Mpama Ridge Exploration Targets
Producing at 11,000 tpa Tin Near Term Targets to Augment Current ROM Feed for extended life-of-mine
11
0
2
4
6
8
10
12
14
2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Tin
Pro
du
ce
d (
kt)
Fewer Than Five Years Taken to Move from Compliant Resource to
one of the Highest Grade Tin Producers in The World
▪ Construction of Bisie was completed in April 2019, with commercial production achieved in
September 2019
▪ Targeting 12,000 to 13,000 tpa tin at AISC of USD10,000/t for +20 years
Current Mpama North Production Profile(1)
43-101 Tin Production (kt)
3
▪ H2 2020 drilling program to declare
additional Mineral Resources from Mpama
South and Mpama North Extension
Future production planned from near term
targets to fill LOM gap
Incremental Tin Production from Potential Mpama North and South Extension (kt)
Life of MineSuccessful Ramp
Up of Operations
Note (1): NI 43-101 technical report. Incremental tin from internal estimates based on potential throughput increase and impact of fine tin recovery plant. Incremental tin production estimates
are based on certain assumptions, including but not limited to: quantity of material processed, tin grades of processed material, processing recoveries and the quality of product produced
Incremental Tin From 10% Increase in Plant Throughput (kt) Incremental Tin From Fine Tin Recovery Plant (kt)
13
Alphamin is a Sustainable High Grade, Low Cost Producer
Syrymbet
Kanbuak
Cinovec
Bisie
Achmmach
Gottesberg
Rentails
Damarauis Tails
San Rafael Tails
Heemskirk
Oropesa
Tarongo
East Kemptville
Mt Pleasant
Clevelend
Mt Garnet
South Crofty
Mt Lindsay
MokopaneMaly Khingan Tails
Renison
-1
0
1
2
3
4
5
1 10 100 1,000
Tin
Gra
de %
Resources - million tonne (logarithmic scale)
Bubble size = Contained Tin (kt)
World Tin Mine AISC Cost Curve (2020)World Tin Resources (2020)
Significantly Lower Costs than many Global PeersOne of the Highest Grade Tin Resources in the World
Costs modelled based on average 2019 exchange rates
Bisie
Market equilibrium Price: USD 25,600/tonne
…with significant near
term potential to expand
the resource base
3
Alphamin AISC sits in the lowest quartile of the tin producers universe at
USD10,800/t, a margin of over 40% against the current tin price
Grade advantage over peers is clear, with a tin grade 15 times higher
than the weighted average grade of global projects
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
0 20 40 60 80 100
All-
in S
usta
inin
g C
osts
(U
SD
/tonne o
f tin
)% of cumulative global tin mine output
Source: International Tin Association Global Resources & Reserves 2020 & Tin Industry Review 2020
15
Proven Executive Management Team and Experienced Board of
Directors
Maritz SmithCEO
Eoin O’DriscollCFO
Boris KamstraExecutive Director
Trevor FaberCOO
Gareth TaylorManaging Director &
General Manager at ABM
▪ Over 19 years experience in African mining and
corporate finance
▪ Prior to joining Alphamin, he was CEO of Denham
Capital’s African mining platform, Pangea, and
CFO of Metorex Limited, a mid-tier mining group
with operations across Southern Africa
▪ Has been involved in the DRC mining industry for
over 10 years
▪ Part of Alphamin team who successfully financed
and developed Bisie mine over the last 6 years
▪ Extensive experience in the DRC gold and tin
mining sector
▪ Former Chief Executive Officer of Alphamin
▪ Has been involved in the DRC mining industry for
14 years
▪ Extensive experience establishing mining
operations in remote locations
▪ Mining Engineer with over 15 years operations
and project experience in DRC during which time
he successfully established one open-pit and two
underground mining operations
▪ Over 40 years surface and underground
production experience in gold, copper and cobalt
production across various African mines
▪ Possesses expertise in all aspects of working
within challenging environments – from
exploration, through to project financing and build
to commissioning and production
Charles NeedhamNon Executive Chairman
Paul BaloyiNon Executive Director
Maritz SmithCEO
Eoin O’DriscollCFO
Boris KamstraExecutive Director
Rudolf PretoriusNon Executive Director
Douglas StrongNon Executive Director
Brendon JonesNon Executive Director
Board of DirectorsExecutive Management▪ Executive Management
comprised of experienced
individuals in the mining
sector
− Over 85 years combined
experience in African
mining
− Most of the executive
management have
extensive experience
working in the DRC
▪ Board of directors
provide oversight with
experience gained at blue
chip financial and mining
companies
▪ Apart from management,
strong stakeholders in
Sprott Inc., Barak Fund
(debt holder), Denham
Capital and the Industrial
Development Corporation
of South Africa
4
Sean NaylorNon Executive Director
Zain MadarunNon Executive Director
16
Alphamin Differentiates itself as a Responsible Tin Producer
Responsible Tin Mining
▪ Alphamin operations are intended to be the manifestation of
what conflict mineral advocacy and legislation are aimed to
achieve
▪ Should be of interest to international trading, smelting
companies and multinational brands which use tin in their
products
‒ Member of Responsible Minerals Initiative since 2016
‒ First mining company in the region to be accepted as
“conflict free”
‒ Subscribing participant in the Voluntary Principles on
Security & Human Rights
‒ Strong Government support via the establishment of
CAIMB in 2016 - a North Kivu Government support
committee for the development of the project
‒ In compliance with the Dodd Frank Act
‒ In compliance with IFC Performance Standards and
Equator Principles
‒ Support and participation of the Industrial Development
Corporation of South Africa
5
17
Strong Community Links Cultivated through Meaningful
Contributions
Symbiotic Relationship with the Community
▪ Strong community links with the provision of both direct and indirect employment
▪ MoU signed with Alphamin and Walikale Community to collaborate in promoting environmental conservation and the reduction of illegal artisanal
mining on Alphamin concessions
‒ Improved security through extensive intelligence network
▪ Alphamin committed, from the date of production, to spend 4% of its in‐country operating and administrative expenses on community
development while initiating projects and the Alliance during construction
▪ Alphamin has uplifted the community through social projects including potable water, developing micro-hybrid energy and building schools
▪ Most social projects require a contribution from the community ensuring their sustainability
5
18
Alphamin Resources
Suite 1, Perrieri Office Suites
C2-302, Level 3, Office Block C
La Croisette, Grand Baie, 30517
Mauritius
For Further Information:
Tel: +(230) 269 4166
Tel: +(243) 810 003 943
www.alphaminresources.com